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10 Cards in this Set
- Front
- Back
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Operating Costs |
Costs that occur while running a company |
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Monopoly |
Total control of a type of industry by one person or one company. |
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Fixed Costs |
Costs a company must pay regardless of wether or not its operating. |
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Deflation |
A decline in the volume of available money or credit that result in lower prices, and, therefore increase the buying power of money. |
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Trade Union |
An organization of workers with the the same trade/skill |
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Industrial Union |
An organization of common workers in a particular industry. |
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Lock Out |
A company tool to fight union demands by refusing employees to enter the facilities to work. |
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Marxism |
Theory of socialism in which a class struggle would exist until the workers were finally victorious, creating a classless society. |
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Arbitration |
settling a dispute by agreeing to accept the decision of an impartial outsider. |
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Closed Shop |
an agreement in which a company agrees to only higher union members. |
